HYPE token slides over 7% as Coinbase spot listing on 5 February fails to spark rally

Hyperliquid's HYPE token stayed under selling pressure on Thursday even after Coinbase confirmed a spot listing with HYPE-USD trading set to begin on 5 February. The token changed hands near $32.9, more than 40% below its $58–60 peak, as a bearish market structure and fragile altcoin sentiment limited the impact of the listing news.